Lennar High Volume Day?
Published on Tuesday, 08 May 2012 11:38 Written by TradersHuddle Wire
New York, May 8th (TradersHuddle.com) - Unusual high volume detected on shares of Lennar Corporation (NYSE:LEN) early in the trading session. The pace in volume of Lennar points to a break above average, with buyers stepping in, as the stock is 0.89% higher.
Lennar Corporation (NYSE:LEN) builder of single-family attached and detached homes. The Company also provides mortgage financing, title insurance, closing services and other ancillary services.
Lennar has already traded 0.806 times its 3-month average volume and has calculated support and resistance at $24.30 and $30.08 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
The overall market index S&P 500 is trading lower by -1.4% from its previous trading close, which means that Lennar stock is outperforming the overall market.
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